Konstantin Kryvopust: Sam Bankman-Fried has been charged with bribery in China


FTX founder Sam Bankman-Fried faced a new bribery charge, adding to the 12 charges he already faced.

The former CEO of FTX was arrested last year on charges of fraud, conspiracy and attempting to evade US campaign laws.

He was released on bail, and the terms of his release were the subject of heated debate between his defense team and prosecutors.

According to substituted accusationBankman-Fried is accused of attempting to bribe a Chinese government official.

SBF allegedly bribed Chinese officials

The 13-count indictment now includes charges of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA).

Bankman-Fried has yet to be arraigned on five of the 13 charges against him.

The preparatory meeting is scheduled for March 30.

Prosecutor’s Office accused Bankman-Fried in that he managed the transfer at least 40 million dollars cryptocurrencies for the benefit of Chinese government officials.

The 31-year-old former billionaire previously pleaded not guilty to eight counts related to the collapse of FTX.

Prosecutors say Bankman-Fried stole billions of dollars in client funds to cover losses at Alameda Research, his cryptocurrency-focused hedge fund.

SBF is not allowed in League of Legends

Amid ongoing legal proceedings, the terms of Bankman-Fried’s bail have been the subject of controversy.

His attorneys recently reached a deal with the U.S. Attorney’s Office that allows him to stay at home while restricting his use of certain electronic devices and programs.

Those proposed terms, which have yet to be approved by U.S. District Judge Lewis Kaplan, would bar Bankman-Fried from using a smartphone with Internet access and limit him to voice calls and text messages.

He will also be required to use a basic laptop with monitoring software and refrain from using any other electronic communication devices.

As part of the new deal, Benkman-Fried’s parents have reportedly agreed to limit his access to their devices and not bring banned electronic devices into their home.

If there is “reasonable suspicion” of a breach, he must surrender his devices for a search.

SBF could face up to 115 years in prison

Bankman-Fried is scheduled to go on trial on October 2, 2023, where he will face criminal charges of stealing billions of dollars in FTX client funds received through Alameda Research and making large illegal political donations.

He has pleaded not guilty to eight felony counts that could carry up to 115 years in prison if convicted.

As the case continues to unfold, Bankman-Fried has remained largely silent on social media platforms such as Twitter, adding to the intrigue surrounding the legal proceedings against the former FTX CEO.

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